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The improvement is apparent to those who counsel families verging on foreclosure.

"I think we are in a much better position than we have been in the last couple of years," said Shannon Peer, director of housing counseling at Brothers Redevelopment Inc. which administrators the Colorado Foreclosure Hotline

Peer noted that between Oct. 1, 2011 and Sept. 30, 2012, the hotline received 15,708 calls. For the same period between 2008 and 2009, that number reached 39,507.

Lou Barnes, a Boulder-based mortgage banker and an analyst of financial markets, noted that according to Lender Processing Services, Colorado has the sixth lowest delinquency rate on mortgages in the nation.

"The five that are in better shape than we are are very much special cases involving energy development," said Barnes alluding to the lower delinquency rates in Montana, Wyoming, South Dakota, Alaska and North Dakota.

He said that in Colorado there has been a tremendous influx of people but building permits have dropped.

"If you add people and don't add houses, and you hold prices constant for long enough, you are going to get a significant recovery and a real drop in pain," said Barnes. "We are very nearly the first (state) to recover."

FILE -- Signs posted on the wall at the offices of the Colorado Foreclosure Hotline. The Colorado Foreclosure Hotline is a free service, those posted on the wall charge a percentage. (Andy Cross, The Denver Post)

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